1st Jun 2018 15:16
Draganfly Investments Limited
("Draganfly" or the "Company")
1 June 2018
Transaction Update
Further to the announcement of 22 March 2018, Draganfly Investments Limited is pleased to announce that it has entered into binding heads of terms with a private entity owning copper exploration and development assets in Zambia, to undertake a reverse takeover in conjunction with a placing of new shares in the enlarged group.
Due diligence is underway and the Company hopes to announce exchange of contracts and the fundraising, which are subject, inter alia, to successful completion of due diligence, shareholder approval and admission to AIM, during Q2/Q3 2018, at which point the Company will apply for the suspension of trading of the Company's shares on AIM to be lifted.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament and of the Council.
For further information please contact:
Luke Bryan +44 (0) 7786 929 966
Dennis Edmonds +44 (0) 7796 338 372
Nick Josh
Cornhill Capital Limited (Broker) +44 (0) 20 3700 2500
Tom Price/Jamie Spotswood
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625
Related Shares:
Draganfly Investments